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ThecoinrepublicCryptoMINA Technical Analysis: MINA ready for a...
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MINA Technical Analysis: MINA ready for a Bull Run?

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  • The coin has entered into an uptrend.
  • The coin is close to giving a breakout of one of its major resistance.

The coin is trading very close to its resistance level. The 200 EMA (the green line) is acting as a support for the coin. Moreover a Golden Crossover can be seen on the daily time frame as soon as the price increases more.

MINA on the daily chart

Source: TradingView
Source: TradingView

On the daily chart, the MINA coin has been facing resistance on the horizontal line which is marked on the chart. The price has reversed several times from those levels. Thus it indicates that the levels are one of the coin’s major resistance and if the coin breaks that levels we can see a good bull run. Golden Crossover may also be seen on the chart as soon as the coin gives this horizontal line breakout. We can also call this horizontal line breakout, a basic price action breakout.

MACD – The MACD indicator has given a bullish crossover indicating that bulls have taken over bears and the price of the coin may rise further. Thus, this shows that the MACD indicator has generated a buy signal and investors can now look forward to investing in the coin.

Relative Strength Indicator (RSI) – Currently, the RSI curve has a score of 70.03 which is over its 50-point level. Though we can see that the RSI curve is falling, but as soon as the price rises, the RSI curve will begin to rise. The RSI curve trading over its 50-point level can also be considered as a positive signal.

Analyst views and expectations

The coin looks like a great opportunity for both types of investors whether long-term or short-term because once the coin crosses this horizontal line, it has no major resistance upside therefore we can expect a strong bull move.

The value of Mina is anticipated to increase by 1.30% and reach $0.912237 by February 7, according to CoinCodex’s most recent price projections. The current sentiment is bullish, according to its technical indicators.

The price of Mina is expected to increase significantly with widespread acceptance and partnerships with other influencing networks, according to CryptoNewsz.com. The Mina is expected to start the year 2024 at $5.63. By the end of 2024, the price of Mina is projected to reach a maximum level of $5.94.

DigitalCoinPrice predicted Mina coin price to increase to $1.82 in 2025. The website then forecast the price of Mina for the year 2030, stating that it may trade at $5.38.

According to Pricepreditctions.net Mina will be worth around an average price of $1.80 in 2024.

Technical Levels

Major resistance -$2.908

Major support -$0.515

Conclusion

Currently by looking at the daily chart of the coin, it seems that this cryptocurrency can give some great returns to investors.

Disclaimer

The contents of this page are intended for general informational purposes and do not constitute financial, investment, or any other form of advice. Investing in or trading crypto assets carries the risk of financial loss. The forecasted data (also called “price prediction”) on this page are subject to change without notice and are not guaranteed to be accurate.

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Andrew Smith
Andrew Smith
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
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